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I'm always amazed that people bringing in tons of money into your city is a problem, and the root cause is the people bringing in money... What the fuck is goin
by ergocoder 4y ago
I'm always amazed that people bringing in tons of money into your city is a problem, and the root cause is the people bringing in money... What the fuck is going on?
- bobthepanda 4y agoIf the money doesn’t spread around, it’s a net negative for existing residents.
- ergocoder 4y agoAnd it isn't spread around because the local government is incompetent. There are tons of other better solutions to manage the "too much income" problem. The cities are fucked regardless with that level of incompetency. Imagine your startup's problem is having too much money, and your CEO decides to fire the paying customers because it is too much money.
- rr808 4y agoThat's the problem though the people with golden visas usually aren't paying customers they're just rentiers who aren't contributing anything. The visas should be given to people who start companies and hire people and pay taxes, buying some real estate for a few years helps no one.
- ergocoder 4y agoWhat do you mean? They pay rent. They pay for food. They shop locally. They are basically tourist. They are the easiest money to earn.
- rr808 4y agoYou're assuming people with golden visas actually live in the country. From what I've seen I dont think its common.
- bobthepanda 4y agoAlso, even if they visit sometimes, that is going to be less money spent in a year than a full-time resident that they outcompeted for resources.
- petre 4y agoThat exactly what the incompetent local government assumed as well. But those golden visa people don't live there, they just park money, maybe open an airbnb and operate it remotely, skirting taxes. So yes, taxing the sh*t out of airbnbs and empty property is one solution.
- ergocoder 4y ago"skirt tax" is an odd statement. It is more like Portugal doesn't collect tax. > taxing the sh*t out of airbnbs and empty property is one solution. Let's not downplay it. It is a much more superior solution.
- Panzer04 4y agoBecause it shouldn't be a problem - but everyone wants to live in the best cities for cheap. What goes unsaid most of the time is that we should only be accommodating those who already live in said city (or, more hypocritically, the people who want to move into the city don't find it a problem when they move in, but do if its other people). Foreign immigration is an easy target, as are the wealthy. The core of the issue is likely supply driven in most places - It makes no sense for an apartment that costs 300k to build to cost 500k-1m unless supply is constricted.
- ergocoder 4y agoThe local government is incredibly incompetent. We should accommodate anyone who is willing to bring in the money. There are tons of other better solutions. For example, why don't they just tax the shit out of Airbnb? The "we earn too much money" problem is just straight up odd.
- petre 4y agoResidents would likely get pissed on newcomers pouring money into a city and driving prices up. I've seen a protest in Lisbon against tourists. It's true that aside foreigners on golden visas it also attracts a less desirable form of tourism: cruise ships.
- bobthepanda 4y agoAlso tourist jobs are, by definition, almost always low income, because they are collecting bits of people’s vacation budget. There’s nothing more than the bottom rung there, unlike other economic development strategies.